Vice-president and distinguished officials with us today
|
|
- Abigayle Hamilton
- 8 years ago
- Views:
Transcription
1 Speech of Mr. José Antonio Álvarez, Chief Executive Officer of Banco Santander at the General Shareholders Meeting, March 18, 2016 Mr. President of Cantabria. Vice-president and distinguished officials with us today Shareholders of Banco Santander, ladies and gentlemen. Good morning and thank you for attending. I will divide my speech as follows: First, I will speak about our commercial transformation and the positive impacts we are already seeing on the Group s results in I will then share with you my views on the main initiatives and results of the units, as well as the management priorities for Lastly, I will dedicate a few minutes to the Group s objectives. 1. Grupo Santander s evolution in was a positive year for Santander. Not only did we achieve the goals we set at the start of the year but we also combined this with organisational changes and progress in the commercial transformation, all of which is needed to adapt us to a changing environment. We are facing this environment with a business model that has demonstrated its strength in recent years and which we are adapting in order to maximise our profitability levels and continue to create value for our shareholders. This transformation is backed by two key ideas: boosting our commercial revenues and strengthening the Bank s position in costs, risk management and capital. 1. First. Progress in our commercial transformation. We want a larger number of loyal customers, a strategy we regard as vital for growing organically in the coming years. 1
2 To this end, we have launched various value offers for individual customers, SMEs and companies in different countries. The role played by our global corporate banking division is key here, both in the segment of large companies, where we are accompanying our customers in their international expansion, as well as cooperating with local commercial banks to develop and launch products. We are also giving a big push to technological innovation and the multi channel approach. The commercial banking and technology and operations divisions carry out the digital transformation on a day-to-day basis. The improvement in the quality of information and the way we manage it, is enabling us to be better informed about our customers and respond to their needs more quickly and in a more personalised way. We are advancing in digitalisation, without losing our essence as a bank. The branches will continue to be the main channel for customers, and will be more dedicated to selling higher value-added products and offering greater advisory services. We are designing new, more modern and efficient offices. All these measures are already being reflected in an improvement in our customer satisfaction indices. 2. Second. Balanced growth of business volumes. Lending rose in nine of our 10 core countries in their corresponding currencies and all segments grew, although with different strategies. In individuals, the greater loyalty is reflected in a 6% increase. In SMEs, the objective is to gain market share; we are already doing so in several countries. In big companies, we are focusing more on growth in products that are less capital intensive and on offering high value services for customers. Something similar is happening in funds, which increased in all countries, resulting in a rise of 14% both in demand deposits and mutual funds. All of it while we continue to optimise the cost of funds. 3. Third. Solid and sustainable results. Attributable profit was 5,966 million, 3% more than in This included some positive and negative non-recurring results for a net charge of 600 million. On the positive side were the reversal of tax liabilities 2
3 in Brazil and the operation of Banco Internacional do Funchal and on the negative charges for the amortisation of intangibles, good will and provisions. The total net charge was 600 million. Excluding these extraordinary items, the Group s underlying attributable profit was up 13% at 6,566 million. This growth was driven by: Record gross income of 45,272 million, spurred by the growth quarter after quarter of commercial revenues, reflecting the greater business volumes and management of spreads. Moreover, these revenues are of high quality, as almost all of them relate to net interest income and fee income (the Group s traditional business). In contrast, trading gains, more volatile, only accounted for 5% of our revenues, well below that of our competitors. This means that our revenues are more recurrent and predictable. Costs were 23,989 million, almost flat in real terms and on a like-forlike basis. This was due to our discipline in costs. We attained the goals of the efficiency plan one year ahead of schedule, thereby making austerity in operating costs compatible with investment in digitalisation, the multichannel strategy and regulatory requirements. We are one of the international financial system s most efficient banks. In order to continue being so, we announced last September that we had increased the efficiency plan by 1,000 million to 3,000 million of cost savings for These savings will enable us to make investments in technology while continuing to achieve excellent cost-to-income ratios and maintaining the quality of service of our franchises. Revenue growth and control of costs were accompanied by a 4% decline in loan-loss provisions to 10,108 million and the consequent improvement in the cost of credit. We expect this trend to continue in Fourth. Improved credit quality. We reduced the non-performing loan ratio and increased coverage and in almost all countries, thanks to an adequate risk management policy. 3
4 Our solid risk culture is one of the keys that has enabled Grupo Santander to respond to the changes in economic cycles, the new requirements of customers and tougher competition. To this end, the launch of the Advanced Risk Management Programme and the strengthening of the risk culture throughout the Group under a common identity ( risk pro ) will enable us to keep on advancing in prudent and sustainable risk management. 5. Fifth and lastly. We strengthened solvency and today have a good position bearing in mind our business model. The year s results contributed significantly to the organic generation of capital and enabled us to have a fully loaded CET1 above the 10% target we set at the start of the year. Risk management and growth of capital are two of our strategic objectives, as the executive chairman has already pointed out. In underlying terms, the return on tangible equity (RoTE) was 11% and the return on risk weighted assets (RoRWA) rose to 1.30%. Both figures stand out compared to those recorded by our main competitors. In short, we grew in business, boosted capital and at the same time increased the cash dividend per share. 2. Evolution by business areas I will now dedicate a few minutes to looking at the evolution of the main units in 2015 and the management priorities for Santander Spain made significant progress in its new strategy, which rests on the following pillars: The first one is building long-term relations with customers. A new relationship concept was introduced that rewards loyalty via the strategy. The second is to be the bank of choice of companies in Spain, for which we strengthened the commercial team specialized in this segment. We also launched the account for SMEs, which was contracted by more than 50,000 of them. We are increasing our market share in the segment and are leaders in wholesale and private banking. Our third pillar is achieving excellence in customer service quality. We want to 4
5 improve customer satisfaction by optimizing their experience with us. In this context, we achieved a significant improvement in customer satisfaction surveys during the year. None of this is worth anything unless it is also accompanied by advanced risk management and a sustainable level of profitability, which makes our customers and shareholders feel comfortable. Attributable profit, against a backdrop of tough competition, was 18% higher at 977 million. Of note was the good evolution of credit quality and the cost of credit, which we expect to maintain in the future. Looking to 2016, we will continue the strategy of forging long-term relationships in order to reach two million customers. We also want to continue to improve customer satisfaction, gain market share in SMEs, reduce the cost of credit and continue to lower the volume of unproductive assets. Lastly, we will continue to advance in the digital transformation process. The United Kingdom continued the good dynamics in individual customers. We increased the number of loyal customers via the strategy, as well as in companies where we continued to gain market share in a market which, as a whole, is flat. We also focused on mobile channels and digital banking, launching various solutions, which were recognized by the market. This produced a 22% rise in the number of digital customers. Attributable profit was 1,430 million, 14% more than in 2014, due to the good commercial dynamics, reflected in gross income, and enhanced credit quality that reduced loan-loss provisions. The focus in 2016 will continue to be on customer satisfaction, the digitalization process, increasing the range of services and growing in SME business, again, more than the market. Lastly, and in accordance with the new local requirements, we are beginning the process of ring-fencing our retail and corporate banking, which must be completed in In Brazil, we continued the improvement of the bank started several years ago, which is developing a more sustainable business model: more customers, more loyal ones and greater productivity and efficiency. We generated more recurring revenues and developed a better risk profile. This was made possible thanks to combining growth in lending with a change 5
6 of business mix toward lower risk products. In 2015, we focused more on companies, large firms and mortgages. I would like to highlight the good evolution of the income statement, due to: Revenue growth in every quarter. We controlled costs, which grew well below the inflation rate. And we reduced the cost of credit, the result of a favourable evolution of credit quality, where we performed better than our competitors. Attributable profit was 33% higher at 1,631 million at constant exchange rates. Although it is not possible to isolate oneself completely from the country s current recession, the improvement in the franchise over the last few years enables us to face the current environment with guarantees. We have management tools to take advantage of high interest rates and inflation, and we will focus on selective business growth, operational efficiency and risk control. We expect to be able to improve our 2015 results this year in local currency terms. In the United States, we are adapting our organizational structure to the regulatory requirements. We strengthened the risk management and control models in order to comply with the supervisors expectations. To this end, we are in the process of creating the Intermediate Holding Company (IHC) that will integrate all the businesses in the US (Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International (BSI), etc). We are also investing in improving the banking franchise, in order to step up the relationship with our customers and increase profitability. At Santander Consumer USA we will focus on auto finance, while we discontinue the personal loan business. All these measures are having a temporary impact on results and explain a large part of the fall in profits to $752 million. But we are convinced we are laying the foundations for a better and stronger franchise in the future. In 2016 we have goals and differentiated strategies for each unit in the country, while continuing to integrate the units into the holding company. From the commercial standpoint, Santander Bank wants to grow, particularly 6
7 in companies, and reduce costs. In Santander Consumer USA, activity will be focused, as I already mentioned, on strengthening our main auto finance businesses. Santander Consumer Finance has a successful business model and a position of clear leadership in auto finance and durable goods in Europe. The integration of GE Nordics at the end of 2014 and the development of the agreement with PSA Finance, which covers 11 countries and is being incorporated according to the schedules, has strengthened geographic and product diversification. By the end of 2015, the operations of Spain, Portugal, UK, France and Switzerland had been incorporated. The last two are markets where SCF is not present. The strategy s success is reflected in attributable profit of 938 million, 18% more than This year we intend to complete the agreement with Banque PSA Finance by carrying out the operations of Germany, Italy, Holland, Belgium, Austria and Poland. In addition, we will bolster consumer business via Pan-European agreements and we will step up our presence in digital channels. In Mexico, we completed the branch expansion plan started in This strategy increased the pace of commercial activity, with market share gains and revenue growth, mainly in net interest income. We also maintained credit quality under control, improving the cost of credit and the NPL ratio. This resulted in an 8% rise in pre-tax profit at constant exchange rates. Attributable profit was 629 million. In 2016, we are confident we can keep on strengthening our position in key segments: SMEs, companies and mortgages. We want to become the first choice bank of our customers, reducing the churn rate and increasing loyalty via transactions over the long-term. In Chile, we focused on growth in companies and on target segments of individual customers as well as on enhancing the quality of customer attention. We narrowed the gap with our competitors. Attributable profit was 455 million. It was a good year despite the 13% fall in profit, due to lower UF inflation than in 2014 and a higher tax charge. 7
8 In 2016, we will focus on further improvements in customer attention and on our commercial banking transformation, which includes renewing branches. Argentina s profit grew by more than 20% at constant exchange rates to 378 million. This positive evolution was backed by the new commercial strategy and the expansion plan, which produced strong growth in net interest income and fee income. We will continue this year to expand the commercial network and progress in digitalization, within an environment we see as more favourable for business development. In Poland, the strategy in 2015 was focused on growing in mortgages, SMEs, leasing and large companies. We are the leaders in profitability; moreover, we hold outstanding market positions in cards and mobile and online banking. We have an excellent franchise and good position in the country. We have outperformed our competitors in a difficult environment. We posted an attributable profit of 300 million, 15% lower than a year ago. This was due to a sharp drop in interest rates and to the extraordinary contribution to the deposit guarantee fund because of the collapse of a bank. In 2016, we want to be the reference bank in innovation and leaders in digital channels, with a clear objective of increasing our market share in companies, and, moreover, in a more difficult environment where the sector will be affected by a new tax on assets. In Portugal, we are returning to a more normal level of profits. They rose 63% to 300 million, and we gained market share, mainly in companies. Santander Totta was awarded last December most of the assets and liabilities of Banco Internacional do Funchal (Banif), making us the second largest private sector bank in the country, with a market share of more than 14%. We will manage in 2016 the integration of Banif s former customers, continue to gain market share and keep up the process of normalizing the cost of funding and loans. Profits at our units in Uruguay and Peru rose by more than 30%, thanks to double-digit growth in business. Growth this year will be more focused on individual customers in Uruguay and more centred on big companies in Peru. Lastly, these results would not have been possible without the Corporate Centre s contribution. 8
9 This contributes value to the Group via well-defined functions of: control, support, improvement in the global/local relationship and transmission of best practices between units. In an increasingly competitive world, it is crucial that the corporation provides global capacities to the subsidiaries and the know-how to beat the local competitors who do not have this support. As in the rest of the units, we are focusing on the principles of simplification, efficiency, value added and transparency. To this end, we have improved the weight of corporate activities in the Group s results and we expect to keep up this trend in the coming years, putting us at the best levels compared to our competitors. 3. Group objectives Shareholders, ladies and gentlemen, I will end by summing up the Group s global objectives and outlook. We have clear goals for the year, as announced at our Investor Day. They are: Raise the number of loyal customers. Deepen digitalisation measures. Increase market share in SMEs and companies. Reduce the cost of credit. Maintain leadership positions in efficiency. Strengthen organically our capital ratios. Boost the dividend, net book value and earnings per share. We are living through a very volatile environment; we know we face a difficult context in the coming quarters. Yet Santander has consistently shown in the past that it has sufficient strength to overcome the challenges and we will do so again. To this end, we have an excellent starting point: Our business model is clear and well defined. It is a proven and successful model in contrast with that of many of our main competitors, some of whom are fully immersed in redefining their models. We have a unique degree of geographic diversification, which gives us long-term stability, beyond that of economic fluctuations. 9
10 We have a high quality balance sheet. We have high levels of solvency and liquidity for our business model. We have a large number of customers. This gives us enormous potential and we are working to increase their loyalty. We have robust technological capacities on which to develop our digital transformation process. Lastly, and most importantly, we have very talented employees from many countries who are fully committed to the Bank s development. This is vital for the improvements we are implementing. I would like to take the opportunity here to thank them for their efforts and work in a very demanding year. In short, we are one of the world s best and most solid banks s good results once more underscore that our business model minimises risk and makes our results more stable. Despite the recovery in the share price in recent weeks, still our share price does not reflect our real value and strengths. I trust that our message of sustainable growth and value creation will end up being reflected in the share price. Shareholders, ladies and gentlemen, I firmly believe that, with everyone s efforts, the commitment of our employees and the confidence of our customers and all of you, we will attain all our goals and continue to help people and businesses prosper. 10
PRESS RELEASE. Loyal customers grew by 1.2 million, to 13.8 million, and digitally active customers by 2.5 million, to 16.6 million.
2015 RESULTS Banco Santander delivers on its targets and earns EUR 5.966 million (+3%), with strong underlying performance of 13% based on increasing customer satisfaction and loyalty PRESS RELEASE In
More informationPRESS RELEASE. RESULTS 2014 Santander grows business in all markets and makes a profit of EUR 5.816 billion in 2014
RESULTS 2014 Santander grows business in all markets and makes a profit of EUR 5.816 billion in 2014 In 2014, Santander continued to support its clients, growing loans by 5%. We did it with a sustained
More informationPRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING
PRESS RELEASE GENERAL SHAREHOLDERS MEETING Ana Botín: Santander is well positioned to face the challenges. We will lead change Banco Santander has room for growth within our customer base and in our ten
More informationFIRST HALF 2015 RESULTS Santander made ordinary profit of EUR 3.426 billion, a 24% increase
FIRST HALF 2015 RESULTS Santander made ordinary profit of EUR 3.426 billion, a 24% increase PRESS RELEASE The first half results show the soundness and consistency of Banco Santander s business model.
More informationSantander in the world
Santander in the world Santander in Olive trees more than 1,000 years old at Grupo Santander City, Boadilla del Monte, Madrid The results of clearly show the Bank s capacity to solidly weather this difficult
More informationFinancial report. January - March. We want to help people and businesses prosper
2016 Financial report January - March We want to help people and businesses prosper Financial report 3 Key consolidated data 4 Santander aim 6 Highlights of the period 8 Customers 9 General background
More informationImportant information
29 April 2014 1 Important information Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places
More informationThe Santander business model
The Santander business model Commercial focus Efficiency Disciplined use of capital and financial strength Santander brand Prudence in risk Geographic diversification and model of subsidiaries Banco Santander
More informationMagda Salarich Head of Santander Consumer Finance
Magda Salarich Head of Santander Consumer Finance Santander Consumer Finance S.A. ( Santander Consumer Finance ) and Banco Santander, S.A. ("Santander") both caution that this presentation contains forward-looking
More informationBanco Santander s profit rose 90% to EUR 4.370 billion in 2013
Press Release Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 BUSINESS. Deposits were stable at EUR 607,836 million, while mutual funds grew by 14% to EUR 93,304 million. Loans decreased
More informationWe want to help people and businesses prosper. Annual report
We want to help people and businesses prosper 2014 Annual report Santander in 2014 Santander s purpose is to help people and businesses prosper. We want to be the best retail and commercial bank that earns
More informationWe want to help people and businesses prosper. 2014 Annual. review
We want to help people and businesses prosper 2014 Annual review Annual review 2014 6 MESSAGE FROM ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN Our foundations give us a unique opportunity to further improve our
More informationWe want to help people and businesses prosper. 2015 Annual report
We want to help people and businesses prosper 2015 Annual report Meeting our commitments with shareholders Underlying attributable profit Ordinary RoTE Million euros % 6,566 11.0% 11.0% 5,816 5,966 1 +13%
More informationWe want to help people and businesses prosper. Financial report. January - March
We want to help people and businesses prosper 2015 Financial report January - March Financial report 3 Key consolidated data 4 Highlights of the period 6 Santander aim 8 General background 9 Income statement
More informationBanco Santander - The World's Largest Bank
Corporate governance Santander s corporate governance is based on equality of shareholders rights and maximum transparency. The global financial crisis, which marked most of 2008, makes it even more important
More informationBBVA Group - A Guide to Debt Management
January June 2015 Results: BBVA earns 2.76 billion in the first half of the year Activity: The BBVA Group s gross lending to customers increased 11% in the last year. In Spain, new production for loans
More informationCommerzbank: Strategy successful net profit of over 1 billion euros and dividend
IR release 12 February 2016 Commerzbank: Strategy successful net profit of over 1 billion euros and dividend Operating profit in 2015 more than doubled to EUR 1,909 m (2014: EUR 689 m) Operating profit
More informationChile. First Half 2015. July 30, 2015
1 Chile First Half 2015 July 30, 2015 Disclaimer 2 Banco Santander Chile caution that this presentation contains forward looking statements within the meaning of the US Private Securities Litigation Reform
More informationCommerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%
IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:
More informationHow to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell
Case Study - 2012 How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Is it possible to increase client relationship efficiency and revenue by collect, analyze
More information2015 Earnings Presentation
2015 Earnings Presentation Ana Botín, Group Executive Chairman José Antonio Álvarez, Group CEO January 27 th, 2016 Important information Banco Santander, S.A. ("Santander") cautions that this presentation
More informationCNP Assurances signs a longterm strategic partnership in insurance in Europe with Banco Santander. 10 th July 2014
CNP Assurances signs a longterm strategic partnership in insurance in Europe with Banco Santander 0 th July 04 Disclaimer «Some of the statements contained in this document may be forward-looking statements
More informationCOMPANY PRODUCTS AND SERVICES
COMPANY PRODUCTS AND SERVICES THE WORLD IS WAITING. 1 1 Santander Group. With more than 150 years in the business, Santander has become one of the world's largest financial groups. This has been based
More informationinforme anual 2012 nombre del capítulo ANNUAL REPORT 2012
ANNUAL REPORT 2012 informe anual 2012 nombre del capítulo ANNUAL REPORT 2012 1 2 4 Key figures 6 Letter from the Chairman 12 Letter from the Chief Executive Officer 20 Corporate governance 24 Santander
More informationInterim report April-June 2003
Interim report April-June 2003 Pre-tax profit for the second quarter amounted to SEK -34m, which is a SEK 30m improvement compared to last year (SEK -64m). Software revenue grew by 5% during the second
More informationmr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com
Date: 27 August 2015 For information: mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Growth of 20% in net result, excluding non-recurring items, to EUR 8.3
More informationBalance sheet structure absorbed adverse PSI+ effect
Full Year 2011 Results Participation in PSI+ 1 leads to additional impairment of Euro 3.2 billion Core Tier I at Euro 1.3 billion 2 post PSI+ related impairment Balance sheet structure absorbed adverse
More informationSANTANDER'S ACQUISITION OF ABBEY: BANKING ACROSS BORDERS
December 7, 2011 SANTANDER'S ACQUISITION OF ABBEY: BANKING ACROSS BORDERS Caterina Buja 828410 Luca Gerotto 827794 INTRODUCTION http://youtu.be/xsx7af35tdm Monday, July 26 2004 "We are convinced Santander
More informationJosé Antonio Alvarez. Group CEO
José Antonio Alvarez Group CEO Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places throughout
More informationAdecco returns to growth in October
Adecco returns to growth in October Improving revenue trends and strong profitability in Q3 2013 Q3 2013 HIGHLIGHTS Revenues flat in constant currency Gross margin of 18.7%, up 80 bps SG&A down 2% in constant
More informationFinancial Information
Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow
More information2013 Annual Results. D. Francisco Gómez Martín CEO. Madrid, January 31 st, 2014
2013 Annual Results D. Francisco Gómez Martín CEO Madrid, January 31 st, 2014 Disclaimer This presentation has been prepared by Banco Popular Español solely for purposes of information. It may contain
More informationÁngel Rivera Head of Retail & Commercial Banking
Ángel Rivera Head of Retail & Commercial Banking Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various
More informationSecure Trust Bank PLC. 2015 INTERIM RESULTS 21st July 2015
Secure Trust Bank PLC 2015 INTERIM RESULTS 21st July 2015 Introduction & business review PAUL LYNAM Chief Executive Officer Strategy continues to deliver Maximise shareholder value: To maximise shareholder
More informationFURTHER PROFIT GROWTH IN FIRST-HALF 2015
FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,
More informationQ3 INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors. 28 October 2014
INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors 28 October HIGHLIGHTS FOR THE FIRST NINE MONTHS OF Continued successful execution of our strategy and further improvement in financial
More informationCITI REPORTS FIRST QUARTER INCOME OF $5.01 BILLION, EPS OF $1.01 RECORD REVENUES OF $25.5 BILLION, UP 15% INTERNATIONAL REVENUES UP 18%
CITI REPORTS FIRST QUARTER INCOME OF $5.01 BILLION, EPS OF $1.01 RECORD REVENUES OF $25.5 BILLION, UP 15% INTERNATIONAL REVENUES UP 18% RECORD REVENUES AND NET INCOME IN MARKETS & BANKING AND WEALTH MANAGEMENT
More informationAegon reports first quarter 2015 results
The Hague May 13, 2015 Aegon reports first quarter 2015 results o Earnings impacted by adverse claims experience Underlying earnings decrease to EUR 469 million as fee business growth and the stronger
More informationJosé González de Castejón (787) 759-9094 Ana Calvo de Luis (212) 350-3903 Margie Alvarez (787) 250-3025
Santander BanCorp Press release For more information contact: Puerto Rico New York José González de Castejón (787) 759-9094 Ana Calvo de Luis (212) 350-3903 Margie Alvarez (787) 250-3025 SANTANDER BANCORP
More informationFOURTH QUARTER NET INCOME INCREASES 12% TO A RECORD $5.32 BILLION FOURTH QUARTER EPS OF $1.02, UP 12% REVENUES INCREASE 9% TO $21.
FOURTH QUARTER NET INCOME INCREASES 12% TO A RECORD $5.32 BILLION FOURTH QUARTER EPS OF $1.02, UP 12% REVENUES INCREASE 9% TO $21.9 BILLION CITIGROUP 2004 NET INCOME OF $17.0 BILLION, EPS OF $3.26 REVENUES
More informationMatías Rodríguez Inciarte Vice Chairman
Matías Rodríguez Inciarte Vice Chairman Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places
More informationJosé Antonio Álvarez CFO Santander Group
José Antonio Álvarez CFO Santander Group Disclaimer Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in
More informationHong Leong Bank Announces Second Quarter FY2012 Results
For immediate release 27 February 2012 Hong Leong Bank Announces Second Quarter FY2012 Results Net profit after tax for 2Q FYE 30 June 2012 ( 2Q12 ) reached RM 381 million, a growth of 30% compared to
More informationBBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th
BBVA Compass Giampaolo Consigliere, Head International Commercial Banking Washington, DC - March, 19 th 1 Banco Bilbao Vizcaya Starting from Strong Foundation Argentaria Banco Hipotecario, 1872 Banco de
More informationSecure Trust Bank PLC. 2014 YEAR END RESULTS 19th March 2015
Secure Trust Bank PLC 2014 YEAR END RESULTS 19th March 2015 Introduction PAUL LYNAM Chief Executive Officer Strategy Continues to Deliver Maximise shareholder value by: To maximise shareholder value through
More informationAIB Group (UK) p.l.c. Highlights of 2015 Business and Financial Performance. For the year ended 31 December 2015. Company number: NI018800
AIB Group (UK) p.l.c. Highlights of 2015 Business and Financial Performance For the year ended 31 December 2015 Company number: NI018800 Contents Page Financial and Business review 1. 2015 Performance
More informationRevenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects
Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual
More informationBank of America Merrill Lynch Banking & Insurance CEO Conference Bob Diamond
4 October 2011 Bank of America Merrill Lynch Banking & Insurance CEO Conference Bob Diamond Thank you and good morning. It s a pleasure to be here and I d like to thank our hosts for the opportunity to
More informationCommerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015
Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year
More informationGerry Byrne Country Head Poland
Gerry Byrne Country Head Poland Bank Zachodni WBK S.A. ( BZ WBK ) and Banco Santander, S.A. ("Santander") both caution that this presentation contains forward-looking statements. These forward-looking
More informationHow To Improve Profits At Bmoi
Bank of America Merrill Lynch Banking and Insurance CEO Conference London, 29 September 2009 Good morning. I d like to thank Bank of America Merrill Lynch for letting us speak this morning. Before I talk
More informationI know it s a busy day as HSBC are also reporting. and we re doing the same again today. with the equivalent period in 2008
Barclays Interim Management Statement 10 November 2009 Chris Lucas Good morning and thanks for joining us I know it s a busy day as HSBC are also reporting so I m going to talk for about fifteen minutes
More informationKingfisher plc, Europe and Asia s leading home improvement retail group, today announces its Q3 trading update for the 13 weeks ended 1 November 2008
Thursday 27 November 2008 Kingfisher plc, Europe and Asia s leading home improvement retail group, today announces its Q3 trading update for the 13 weeks ended 1 November 2008 Group Financial Summary (Continuing
More informationWe endeavor to maximize returns.
We endeavor to maximize returns. Ayşegül Özel Yapı Kredi Bankası Private Banking Portfolio Manager Erdoğan Yücel Yapı Kredi Emeklilik Sales Manager FInance 4 th largest private bank (asset size) Leader
More informationJAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005
JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005 Dear shareholders, ladies and gentlemen, FöreningsSparbanken is currently the most profitable bank in the
More informationGLOBAL BANKING & MARKETS
GLOBAL BANKING & MARKETS Investors Day Boadilla del Monte. September 14 th, 2007 Important information 2 Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements
More informationIII. INTERIM MANAGEMENT REPORT OPERATING REVENUES AND FUNDS UNDER MANAGEMENT
III. INTERIM MANAGEMENT REPORT OPERATING REVENUES AND FUNDS UNDER MANAGEMENT Direct insurance and accepted reinsurance premiums written by the Group s subsidiaries amounted to 6,476.2 million in the first
More informationHow To Improve Bankia'S Financial Performance
Morgan Stanley European Financials Conference Bankia Overview March 2014 Mr. Leopoldo Alvear - CFO Bankia Contents 1. Strategy and restructuring plan 2. 2013 results 3. Asset quality and risk management
More informationFTI Consulting +44 (0)20 3727 1340 Richard Mountain / Susanne Yule
13 October 2015 THIRD QUARTER 2015 INTERIM MANAGEMENT STATEMENT Highlights* 10.2% Group gross profit growth, good contributions from all four regions FX lowered gross profit by c. 7m (c. 18m YTD) Double-digit
More informationHow To Make Money From A Bank Loan
NEWS RELEASE FOR FURTHER INFORMATION: WEBSITE: www.bnccorp.com TIMOTHY J. FRANZ, CEO TELEPHONE: (612) 305-2213 DANIEL COLLINS, CFO TELEPHONE: (612) 305-2210 BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME
More informationSantander delivers 6 th year of double digit profit growth
Santander delivers 6 th year of double digit profit growth London, 3 rd February 2011 This statement provides a summary of the unaudited business and financial trends for the year ended 31 December 2010.
More informationFrequently Asked Questions Q3 2006
Frequently Asked Questions Q3 2006 1. Were there any unusual or one-time items in your Q3 results? CIBC s reported diluted earnings per share (EPS) for the third quarter were $1.86. Our EPS was increased
More informationEurope: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability
2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth
More informationTO OUR SHAREHOLDERS A MESSAGE FROM THE CEO. shareholders equity ratio and ROE both rose to over 10%.
TO OUR SHAREHOLDERS A MESSAGE FROM THE CEO During the fiscal year ended March 31, 2004, attained record-high total revenues, income before income taxes, and net income. We also made steady progress in
More informationSantander UK plc. Quarterly Management Statement for the year ended 31 December 2013
The information contained in this Quarterly Management Statement and in the Appendices is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006
More informationCITIGROUP REPORTS INCOME FROM CONTINUING OPERATIONS UP 11% WITH INTERNATIONAL REVENUES UP 17%
CITIGROUP REPORTS INCOME FROM CONTINUING OPERATIONS UP 11% WITH INTERNATIONAL REVENUES UP 17% INCOME FROM CONTINUING OPERATIONS OF $5.26 BILLION; REVENUES INCREASE 10% EPS FROM CONTINUING OPERATIONS OF
More informationThird Quarter 2014 Financial Results
Third Quarter 2014 Financial Results Core pre-provision income up by 8.0% in the third quarter 2014. Operating expenses further down by 3.7% q-o-q and 11.4% y-o-y on a comparable basis. Accelerated provisioning
More informationWESTPAC DELIVERS SOUND RESULT IN CHALLENGING CONDITIONS
Media Release 2 May 2016 WESTPAC DELIVERS SOUND RESULT IN CHALLENGING CONDITIONS Westpac Group today announced First Half 2016 statutory net profit of $3,701 million, up 3% over the prior corresponding
More informationMorgan Stanley Reports Third Quarter 2015:
Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports Third Quarter 2015: Net Revenues of $7.8 Billion and Earnings per Diluted Share of $0.48
More informationCorporate Communications. Media Information 5 November 2013. - Check against delivery - Ladies and gentlemen, Good morning from my side as well.
- Check against delivery - Statement Dr. Friedrich Eichiner Member of the Board of Management of BMW AG, Finance Conference Call Interim Report to 30 September 2013, 10:00 a.m. Ladies and gentlemen, Good
More information26 BUSINESS MODEL Santander focuses on retail banking, which produces substantial recurrence in revenues.
2013 ANNUAL REPORT CAPÍTULO INFORME ANUAL 2013 2 ANNUAL REPORT 2013 6 LETTER FROM THE CHAIRMAN The Bank s strategic position is much better now than at the start of the international financial crisis.
More informationI will now give you an overview of our third quarter financial results using the document titled Consolidated Results of Operations.
I will now give you an overview of our third quarter financial results using the document titled Consolidated Results of Operations. Please turn to page two. 1 For the nine months to December, net revenue
More informationMakita Corporation. Consolidated Financial Results for the nine months ended December 31, 2007 (U.S. GAAP Financial Information)
Makita Corporation Consolidated Financial Results for the nine months ended (U.S. GAAP Financial Information) (English translation of "ZAIMU/GYOSEKI NO GAIKYO" originally issued in Japanese language) CONSOLIDATED
More information4finance investor presentation for 3 month 2016 results. 2 June, 2016
4finance investor presentation for 3 month 2016 results 2 June, 2016 0 meur meur Highlights of First Quarter 2016 Solid results delivered Revenue up 30% to EUR 90.3 million Regulatory changes implemented
More informationSignificant reduction in net loss
press release 12 May 2015 Royal Imtech publishes first quarter 2015 results Significant reduction in net loss Order intake in Q1 at a satisfactorily level of 912 million Revenue 3% down excluding Germany
More informationConsumer Credit Worldwide at year end 2012
Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international
More informationKey figures 2 Letter from the chairman 4 Letter from the chief executive officer 10 Corporate governance 16 The share 20 The Santander business model
Annual report 2009 Annual Report 2009 Follow me robot and Julian Opie s 7 People Walking at Grupo Santander City s new visitors centre in the El Faro building, Boadilla del Monte, Madrid. Key figures 2
More informationARION BANK S 2014 FINANCIAL RESULTS
Press release, 24 February 2015 ARION BANK S 2014 FINANCIAL RESULTS Arion Bank reported net earnings of ISK 28.7 billion for the year 2014, compared with ISK 12.7 billion for the year 2013. Return on equity
More informationSantander UK plc First quarter 2012 results Transforming the business SME lending up 21%
Santander UK plc First quarter 2012 results Transforming the business SME lending up 21% Santander UK delivered solid profits whilst continuing to support the UK economy, with over 5bn of gross mortgage
More informationAntony Jenkins Deutsche Bank Global Financial Services Investor Conference
7 June 2011 Antony Jenkins Deutsche Bank Global Financial Services Investor Conference Good morning and thank you all for coming. I want to start by thanking Deutsche Bank for inviting me to speak on behalf
More informationBANCO ITAÚ HOLDING FINANCEIRA S.A. International Conference Call RESULTS OF THE 1 ST QUARTER OF 2003 May 7 th, 2003 11:00 a.m.
Operator: Ladies and gentlemen, thank you for standing by. At this time all lines are in a listen-only mode. Later there will be a question and answer session. Instructions will be given at that time.
More informationMagda Salarich. Santander Consumer Finance
Magda Salarich Santander Consumer Finance Disclaimer Santander Consumer Finance, S.A. ( SCF ) and Banco Santander, S.A. ("Santander") both caution that this presentation contains forward-looking statements.
More informationAalberts Industries realises strong growth in revenue (15%) and earnings per share (24%)
date 23 February 2012 more information e-mail Jan Aalberts / John Eijgendaal info@aalberts.nl phone +31 (0)343 565 080 Press Release Aalberts Industries realises strong growth in revenue (15%) and earnings
More informationTHE INTERNATIONAL PROPERTY SPECIALIST. Analyst Conference. 26 March 2007
THE INTERNATIONAL PROPERTY SPECIALIST Analyst Conference 26 March 2007 Agenda Results and achievements 2006 6 step program 1. New business and portfolio diversification 2. Non performing loans 3. Group
More informationBAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45%
BAWAG P.S.K. REPORTS RECORD NET PROFIT OF EUR 333 MILLION, +45% Net profit EUR 333 million, +45% versus prior year Return on equity 14.9%, +3.3pts Core revenues EUR 890 million, +16% Operating expenses
More informationGOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014
The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014 FOURTH QUARTER EARNINGS PER COMMON SHARE WERE $4.38 NEW YORK, January
More informationPersonal and Commercial Client Group Canada
Management s Discussion and Analysis Personal and Commercial Client Group Canada Robert W. Pearce President and Chief Executive Officer, Personal and Commercial Client Group Canada Group Description Personal
More informationOntex Q3 2015: Trading in line with Company expectations and full year outlook reiterated
Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated Aalst-Erembodegem, November 5, 2015 - Ontex Group NV (Euronext Brussels: ONTEX; Ontex, the Group or the Company
More informationStandard Chartered today releases its Interim Management Statement for the third quarter of 2015.
Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,
More information26 BUSINESS MODEL Santander focuses on retail banking, which produces substantial recurrence in revenues.
2013 ANNUAL REPORT CAPÍTULO INFORME ANUAL 2013 2 ANNUAL REPORT 2013 6 LETTER FROM THE CHAIRMAN The Bank s strategic position is much better now than at the start of the international financial crisis.
More informationDILUTED EPS $1.04, UP BY MORE THAN 50% FROM $0.68
FOR IMMEDIATE RELEASE Citigroup Reports Record Core Income for the First Quarter First Quarter Core Income Rises 49% to $3.6 Billion from $2.4 Billion Revenues up 19% to $17.5 Billion from $14.7 Billion
More informationConsolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP]
Consolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP] October 27, 2010 Company Name: KOITO MANUFACTURING CO., LTD. Stock Listing: First Section, Tokyo Stock Exchange Code Number:
More informationGroup Financial Review
Management Discussion and Analysis of Financial Statements. Fifth consecutive year of record performance for the Group. Simplified Income Statement RM Million +/- RM Million % Net interest income 2,065.9
More informationEvolving Business Models and Capital Markets Contexts:
Evolving Business Models and Capital Markets Contexts: The Santander Model May 2012 José Antonio Álvarez CFO Grupo Santander Santander: key figures 2 Highlights Total Assets (EUR trillion) 1.25 Headcount
More informationRamón Tellaeche Santander Cards
Ramón Tellaeche Santander Cards Disclaimer Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various
More informationMedia-Saturn posts strong increase in earnings METRO GROUP generates better operating performance net debt at record low
10 February 2015 1/9 Media-Saturn posts strong increase in earnings METRO GROUP generates better operating performance net debt at record low EBIT before special items totals 1,024 million (Q1 2013/14:
More informationHang Seng Bank 2008 Results Announcement Speech by Mr Raymond C F Or Vice-Chairman and Chief Executive 2 March 2009
Hang Seng Bank 2008 Results Announcement Speech by Mr Raymond C F Or Vice-Chairman and Chief Executive 2 March 2009 Good afternoon, ladies and gentlemen. Welcome to Hang Seng s 2008 results announcement.
More informationCaixaBank posts profit of 305 million, underpinned by strong banking business
CaixaBank posts profit of 305 million, underpinned by strong banking business Strong recurring income generation capacity provided for gross income of 3,603 million, thanks to the strong performance of
More informationDeutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director
Deutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director Slide: Name Slide Thanks very much, it s a great pleasure to be here today and I d like to thank our hosts Deutsche Bank
More informationFrankfurt, June 5th 2009. Goldman Sachs European Financials Conference Mr. Roberto Higuera, CEO
Frankfurt, June 5th 2009 Goldman Sachs European Financials Conference Mr. Roberto Higuera, CEO Disclaimer This presentation has been prepared by Banco Popular solely for purposes of information. It may
More information